The Global Needle-free IV Connectors Market by design (simple and complex), mechanism (positive, negative, and neutral), dwell time (seven-day and other than seven-day) and region (North America, Latin America, Europe, Asia-Pacific, the Middle East, and Africa) was valued at US$ 621.1 million in 2016 and is projected to exhibit a CAGR of 10.3% over the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights. Growing prevalence of chronic diseases with need of treatment for the same, the risk of possible bloodstream infections and effectiveness over conventional IV administration are expected to be the major factors driving the growth of the global needle-free IV connectors market over the forecast period.
Manufacturers are focusing on minimizing the risks associated with IV administration with conventional methods as well as any existing minor issues associated with the use of needle-free IV connectors namely blood reflux caused by gasket compression and blood reflux due to disconnection. For instance, MicroClave connector from ICU Medical provides minimal blood reflux in the catheter tip. The company has received three type of the U.S. patents for MicroClave clear needle-free connector in 2015 and 2016. RyMed Technologies developed InVision-Plus with the neutral advantage technology designed to reduce the bacterial contamination. Furthermore, Nexus Medicals has designed a next generation infusion therapy technology, Nexus TKO to solve infection and occlusion issues.
Browse 70 Market Data Tables and 30 Figures spread through 200 Pages and in-depth TOC on " Needle-Free IV Connectors Market by Design (simple and complex), Mechanism (positive, negative, and neutral), Dwell Time (seven-day and other than seven-day) and Region (North America, Latin America, Europe, Asia-Pacific, the Middle East, and Africa) - Global Forecast to 2025
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Key players are focusing on developing and providing connectors for intravenous and other routes of administration. The world’s first Food and Drug Administration (FDA) approved Tego needle-free connector used in hemodialysis applications is developed by ICU Medical. Furthermore, Vygon S.A. launched Nutrifit enteral connectors in 2016. These can be used for neonates and newborns to ensure safe and secure enteral feeding. Apart from increasing product portfolio’s, companies are adopting strategies such as mergers and acquisitions to make use of the innovative IV administration technologies present in the market and strengthen its foothold in the market. This is further expected to drive growth of the market over the forecast period. In 2017, ICU Medical acquired Hospira Infusion Systems from Pfizer Inc., in 2014 Becton, Dickinson and Company completed the acquisition of CareFusion Corporation, and Medtronic Plc acquired Covidien.
Key Takeaways of the Needle-Free IV Connectors Market:
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